Marten Transport, Ltd. Announces Three-For-Two Stock Split
MONDOVI, Wis., May 13, 2013 (GLOBE NEWSWIRE) -- Marten Transport, Ltd.
(Nasdaq:MRTN) announced today that its Board of Directors has declared a
three-for-two stock split of the company's common stock. The stock split will
be effected in the form of a stock dividend payable on June 14, 2013, to
stockholders of record as of May 28, 2013.Holders of the company's common
stock will receive an additional one-half share for each outstanding share of
common stock held as of the record date.The stock split will increase the
number of outstanding shares of common stock from approximately 22,146,819 to
Chairman and Chief Executive Officer Randolph L. Marten said, "I am pleased to
announce this stock split which reflects our continued strong financial
condition.The increased number of outstanding shares should increase trading
activity, or float, in our common stock.This stock split, while maintaining
our current quarterly cash dividend of $0.025 per share, effectively increases
the cash payout to our stockholders by 50%."
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading
temperature-sensitive truckload carriers in the United States. Marten
specializes in transporting and distributing food and other consumer packaged
goods that require a temperature-controlled or insulated environment. Marten
offers service in the United States, Canada and Mexico, concentrating on
expedited movements for high-volume customers. Marten's common stock is traded
on the Nasdaq Global Select Market under the symbol MRTN.
This press release contains certain statements that may be considered
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements by their nature involve substantial risks
and uncertainties, and actual results may differ materially from those
expressed in such forward-looking statements. Important factors known to
Marten that could cause actual results to differ materially from those
discussed in the forward-looking statements are discussed in Item 1A of
Marten's Annual Report on Form 10-K for the year ended December 31, 2012.
Marten undertakes no obligation to correct or update any forward-looking
statements, whether as a result of new information, future events or
CONTACT: Tim Kohl, President
Jim Hinnendael, Chief Financial Officer
Marten Transport, Ltd.
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